PRICE CUT BY ELI LILLY BY 70%
Eli lilly will cut list price of most commonly prescribed forms of insulin Humalog and Humulin in the fourth quarter this year
“Insulin Price Reduction by World Giant Pharm Companies in the USA (%)
| BY NOVO NORDISK | BY SANOFI PHARMA | BY ELI LILLY PHARMA |
| 75% price cut for insulin products | 78% price cut for insulin products | Humalog and Humulin, by 70%. |
According to media reports, Eli Lilly, one of the largest pharmaceutical companies in the world, has announced its plans to cut the list price of its commonly prescribed insulin products, Humalog and Humulin, by 70%. The decision comes in response to the growing criticism by US lawmakers over the rising cost of insulin, which has made it difficult for many Americans to afford the life-saving medication there are more than 8 million American who use insulin to control their diabetes according to the American Diabetes Associations.
The company will also cut the list price of its non-branded insulin ,Lispro , to $ 25 a vial from May 1st ,the increased price led to a public outcry, with many calling for pharmaceutical companies to take action to make insulin more affordable.
Eli Lilly’s decision to cut the price of insulin by 70% is a significant step towards addressing this issue. The company has stated that the new prices will go into effect in the fourth quarter of this year, and will apply to the most commonly prescribed forms of insulin, Humalog and Humulin.
The move has been welcomed by patient advocacy groups and lawmakers, who have been pushing for lower insulin prices for years. However, some critics have noted that the price reduction may not be enough to make insulin truly affordable for all patients, especially those who are uninsured or underinsured.
Despite this, the decision by Eli Lilly to cut insulin prices by 70% is being seen as a positive step towards making this life-saving medication more accessible and affordable for millions of Americans who rely on it to manage their diabetes.
